The company also said it expects to finish the year in the upper half of its production forecast of 32,000 to 35,000 barrels per day (bpd).

MEG Energy opened new export routes earlier this year by shipping crude across the U.S. border on barges, and plans to start shipping significant volumes of crude by rail from the Canexus terminal in Bruderheim, Alberta, to avoid congestion on pipelines.

The company, whose key operations are in the southern Athabasca oil sands region of Alberta, said production rose 20 percent to 34,246 bpd in the third quarter ended Sept. 30.

Net income rose to $115.4-million, or 51 cents per share in the quarter, from $47.5-million, or 24 cents, a year earlier.

The company’s cash flow rose almost six-fold to $144.5-million, or 64 cents per share.

MEG Energy shares closed at $34.17 on the Toronto Stock Exchange on Wednesday.